This article first appeared in Capital, The Edge Malaysia Weekly on July 14, 2025 - July 20, 2025

Over the week spanning June 30 to July 4, notable changes in shareholding at companies traded on Bursa Malaysia included those  at Southern Cable Group Bhd (KL:SCGBHD).

Privately held Semangat Handal Sdn Bhd trimmed its stake in the manufacturer of cables and wires by 10 million shares on July 1, reducing its shareholding to 62.03 million shares or 6.37% equity interest.

Semangat Handal is the vehicle of Fawiza Faiz, a non-independent non-executive director at Penang-based Southern Cable. Fawiza is the niece of Tung Eng Hai, the managing director and a 32% shareholder of Southern Cable. Fawiza has been slowly reducing her stake in Southern Cable. In June last year Fawiza held 112.03 million shares or a 13.81% stake in the company.

Last Wednesday (July 9), Southern Cable ended trading at RM1.57, translating into a market capitalisation of RM1.54 billion. Southern Cable’s shares have gained more than 70% since early April and hit RM1.58 in intra-day trading last Wednesday, the all-time highest since its flotation in October 2020.

Meanwhile, Labuan-incepted European Credit Investment Bank Ltd surfaced as a substantial shareholder in solutions, communication and digital services company Green Packet Bhd (KL:GPACKET) with 141.09 million shares, or 5.77% equity interest, on July 3.

Close to 87% of the block of shares held by European Credit Investment Bank were obtained via an off-market deal while 18.75 million of the 141.09 million, or 13%, of the shares were sourced from the open market.

It is not clear if European Credit Investment Bank is holding Green Packet’s shares for a client or for itself. The only other substantial shareholder at Green Packet is Authentic Design Resources Sdn Bhd, the vehicle of Kunal Tayal, which has 18.71% equity interest.

Over the past six financial quarters, Green Packet has only managed to record a profit once and had accumulated losses of RM351.74 million in March this year. It is changing its financial year end from March 31, 2025, to June 30, 2025. Green Packet closed at four sen on July 9, giving it a market value of RM97.8 million.

Meanwhile, privately held Distinct Continent Sdn Bhd sold three million shares in Atlan Holdings Bhd (KL:ATLAN), a company involved in property investment, hospitality, auto-component manufacturing and trading of duty-free and non-dutiable merchandise, thus reducing its shareholding to 80.22 million shares or a 31.63% stake on July 4. The shares were sold for RM2.50 each or RM7.5 million in total.

Distinct Continent’s stake in Atlan Holdings is held for a Cyprus-based trust, Lim Family Holdings Ltd, which has 132.82 million shares or 52.36% equity interest in the listed company. Atlan Holdings executive chairman Datuk Sri Adam Sani Abdullah is the settlor, initial protector and a primary beneficiary of the trust. Adam Sani, 69, is also known as George Lim Yong Tong @ Maung Ng We and was a prominent businessman in the 1990s.

The other substantial shareholder of Atlan Holdings is Tan Sri Vincent Tan Chee Yioun’s Berjaya Corp Bhd (KL:BJCORP), which has a 26.53% shareholding. Atlan Holdings closed last Wednesday at RM2.49, for a market capitalisation of RM631.6 million.

At fertiliser manufacturer Cropmate Bhd (KL:CRPMATE) which debuted on the ACE Market on Dec 5 last year, Lau Sam Siong ceased to be a substantial shareholder on July 1 after hiving off 21 million shares off market. In January this year, Lau had 48.8 million shares or a 6.61% stake. Cropmate finished last Wednesday at 17.5 sen, valuing it at RM129.2 million.

Port operator Westports Holdings Bhd (KL:WPRTS) shares hit a multi-year high of RM5.86 in intra-day trading on July 9, before closing at RM5.76 to reflect 37% gains over three months.

Westport’s share price has been buoyed by the government’s approval to revise current port tariffs starting July 15, which will include container handling charges rising by a 30% quantum, while conventional and marine services charges will increase by as much as 15%.

Both the Employees Provident Fund (EPF) and Kumpulan Wang Persaraan (Diperbadankan) or KWAP traded Westports shares during this period of share price strength.

During the week in review, both pension funds were net sellers. The EPF retained 308.07 million shares or a 9.03% shareholding as at July 1 after selling 4.41 million shares while KWAP still held 223.14 million shares or a 6.54% direct and indirect stake after disposing of 4.23 million shares on July 3.

Since early April, Gas Malaysia Bhd’s (KL:GASMSIA) stock has gained more than 16% and finished last Wednesday at RM4.36 for a market value of RM5.6 billion.

During the week in review, pilgrim fund Lembaga Tabung Haji sold half a million shares in Gas Malaysia, reducing its stake to 79.93 million shares or 6.22% as at July 3. 

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